BMO Capital Markets Raises TC Energy (TSE:TRP) Price Target to C$70.00

TC Energy (TSE:TRP) (NYSE:TRP) had its price objective hoisted by BMO Capital Markets from C$66.00 to C$70.00 in a research report released on Wednesday morning,BayStreet.CA reports.

TRP has been the topic of several other reports. National Bankshares lifted their price objective on TC Energy from C$70.00 to C$71.00 in a research report on Wednesday. Wells Fargo & Company upped their price target on TC Energy from C$74.00 to C$76.00 in a research note on Wednesday. UBS Group upgraded shares of TC Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, September 30th. Royal Bank of Canada increased their price target on shares of TC Energy from C$67.00 to C$71.00 in a research note on Friday, November 8th. Finally, Barclays boosted their price objective on shares of TC Energy from C$66.00 to C$67.00 in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$69.54.

TC Energy Price Performance

Shares of TC Energy stock opened at C$68.79 on Wednesday. The company has a market cap of C$71.54 billion, a PE ratio of 20.78, a P/E/G ratio of 1.69 and a beta of 0.82. The business has a 50 day moving average of C$64.70 and a 200 day moving average of C$58.75. TC Energy has a 52 week low of C$43.83 and a 52 week high of C$70.24. The company has a quick ratio of 0.40, a current ratio of 0.76 and a debt-to-equity ratio of 160.84.

TC Energy (TSE:TRP) (NYSE:TRP) last posted its earnings results on Thursday, November 7th. The company reported C$1.03 EPS for the quarter, topping the consensus estimate of C$0.97 by C$0.06. The firm had revenue of C$4.08 billion during the quarter, compared to analysts’ expectations of C$3.90 billion. TC Energy had a net margin of 21.38% and a return on equity of 10.68%. As a group, equities research analysts forecast that TC Energy will post 3.5490515 earnings per share for the current year.

TC Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.113 per share. This represents a $4.45 annualized dividend and a yield of 6.47%. This is an increase from TC Energy’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, December 31st. TC Energy’s dividend payout ratio (DPR) is currently 116.01%.

Insider Transactions at TC Energy

In other news, Director Lindsay Mackay sold 3,520 shares of TC Energy stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of C$70.00, for a total value of C$246,400.00. Also, Senior Officer Dawn Elizabeth De Lima acquired 545 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were bought at an average cost of C$63.06 per share, with a total value of C$34,367.70. Insiders sold 89,490 shares of company stock worth $5,749,355 over the last quarter. 0.03% of the stock is currently owned by insiders.

About TC Energy

TC Energy Corporation operates as an energy infrastructure company in North America. It operates through five segments: Canadian Natural Gas Pipelines; U.S. Natural Gas Pipelines; Mexico Natural Gas Pipelines; Liquids Pipelines; and Power and Energy Solutions. The company builds and operates a network of 93,600 kilometers of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses.